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Oct 24, 2012
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so the united states economy is not tanking. asia from a higher level, wouldn't necessarily call it tanking, but it's heading down and europe has been having its troubles for some time. >> does that catch up with us? does that affect us at some point too? >> well, what we really hope is we affect them over time. and, no, i don't necessarily think so unless there gets to be chaos some place. we've already adapted to what's going on around the world. >> tell me what you see in terms of the rail cars. you were saying you were watching loadings on those. burlington northern -- >> well, at burlington, coal is down as it is with the other railroads, oil is up, and when you're fracking, you bring in lots of sand. so sand would be, for example. and u.p. just reported and they're seeing small gains in things other than -- they're seeing it in lumber. they're seeing it in cars. we're seeing it intermodal. we're the biggest in intermodal. we carry 15% of all the freight measured by tonnage in the united states. just the burlington northern
so the united states economy is not tanking. asia from a higher level, wouldn't necessarily call it tanking, but it's heading down and europe has been having its troubles for some time. >> does that catch up with us? does that affect us at some point too? >> well, what we really hope is we affect them over time. and, no, i don't necessarily think so unless there gets to be chaos some place. we've already adapted to what's going on around the world. >> tell me what you see in...
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Oct 2, 2012
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and samsung will be allowed to sell its gallaxy it tablet in te united states. a court is removing a temporary sales ban on the twice. and samsung has filed a motion against apple saying that iphone 5 infringed on some of its patents. >> tit for tat. >> exactly. and boeing -- some words are for cable. i'd say probably -- >> tit for tat, there's nothing wrong with that. >> if you comfortable saying that. >> i am. >> you know how they cut everything romney says, they cut out all the stuff on both sides of it? all we'll have for you is saying it tit, tit. remember faber, remember what he said? >> yes. the work on his finger. and you let him -- >> no, he stopped right after -- >> he stopped right after you said you what? >> yeah, anyway, boeing engineers and technical workers -- >> who did we have on last week who had a fluffer? >> a fluff off line of clothes. >> right, lululemon. >> is it not lululemon? >> in france it is. >> yeah, it is. what's happening here? the workers are voting to reject the pay offer from boeing. talks are set to resume today. a separate vot
and samsung will be allowed to sell its gallaxy it tablet in te united states. a court is removing a temporary sales ban on the twice. and samsung has filed a motion against apple saying that iphone 5 infringed on some of its patents. >> tit for tat. >> exactly. and boeing -- some words are for cable. i'd say probably -- >> tit for tat, there's nothing wrong with that. >> if you comfortable saying that. >> i am. >> you know how they cut everything romney...
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Oct 10, 2012
10/12
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back here in the united states, we are still talking about that jobs report from last friday. jack welch pinning an op-ed in today's "wall street journal" following his famous post on that jobs report. this morning, he writes in part, i doubt many of us know any business person who believes the economy is growing at breakneck speed as it would have to be for the unemployment to drop to 7.8% from 8.2%. as to whether he regrets his tweet. he said i would have added a few question marks at the end as if with my earlier tweet the one he wrote the night before to make it clear i was raising a question, the whole talk whether or not the chicago politicians were behind this. but i'm not sorry for the heated debate that ensued. i'm not the first one to question government numbers and hopefully i won't be the last. he references austan goolsbee. our guest on friday morning after the jobs report. he has been critical of jack for questioning these numbers. and jack mentions goolsbee in his op-ed in the "new york times" back in 2003. austan in that piece wrote in part, in other words, the
back here in the united states, we are still talking about that jobs report from last friday. jack welch pinning an op-ed in today's "wall street journal" following his famous post on that jobs report. this morning, he writes in part, i doubt many of us know any business person who believes the economy is growing at breakneck speed as it would have to be for the unemployment to drop to 7.8% from 8.2%. as to whether he regrets his tweet. he said i would have added a few question marks...
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Oct 18, 2012
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to here in the united states for example where it's only 30%. in china it's unique in china compared to anywhere else in the world and historically when you looked at power growth it was growing faster than gdp so if power growth was slowing you were worried about overall gdp. now what we've got on the screen is showing you, if you look at growth by sector the growth has fallen off in the major industrial sector, right, went from 12% a year ago to growth of only 3% year-to-date so far when you look at the left-hand side of the screen but in services, has it fallen off the growth, yes. residential, it's actually climbed, so they say you shouldn't necessarily be worried about the decline in growth of industrial power demand because it's being more and more offset by what is a change in the chinese economy but we frequently hear jim chanos talking about this, the ceo of international paper when he was on, when we look at electricity demand we think china is growing at 2%. the question is whether or not you're looking at china through an old framewo
to here in the united states for example where it's only 30%. in china it's unique in china compared to anywhere else in the world and historically when you looked at power growth it was growing faster than gdp so if power growth was slowing you were worried about overall gdp. now what we've got on the screen is showing you, if you look at growth by sector the growth has fallen off in the major industrial sector, right, went from 12% a year ago to growth of only 3% year-to-date so far when you...
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Oct 12, 2012
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this morning we are focusing on investing globally and what's hot, not just here in the united states but also around the world. joining us right now is dennis stattman, blackrock's global allocation team head manager and manager -- team head i should say and manager of the $53 billion bloc rock global application fund and dennis, thank you very much for joining us. when you look around the globe, how different are things, now that we have the fed, not only the fed jumping in with qe3 but other central banks getting in on the act. how much more difficult does that make your job? >> well, it's right now a battle between qe infinity plus what the other central banks are doing versus unfortunately deteriorating fundamentals. what may be somewhat different with this round of qe is that it's coming at a time when central banks around the world are more in line with what the fed's doing, in other words, there is more widespread ease for qe3 than there was at the time of qe1 or qe2. on the other hand, as we look around the world, many economic indicators that we look at, and this is not conf
this morning we are focusing on investing globally and what's hot, not just here in the united states but also around the world. joining us right now is dennis stattman, blackrock's global allocation team head manager and manager -- team head i should say and manager of the $53 billion bloc rock global application fund and dennis, thank you very much for joining us. when you look around the globe, how different are things, now that we have the fed, not only the fed jumping in with qe3 but other...
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Oct 8, 2012
10/12
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it will also impair heavily on the commercial products in the united states. they didn't like the going for growth. so just another fly in the ointment for the proposed merger. and finally, george osbourne spoke to us today, as well, about how he views the continuing ability of britain to deal with the situation. quick listen on that. >> one of the countries getting on top of our debt problems. we have a credible plan to reduce our budget deficit, that's delivering very low interest rates for us in the markets at the moment. so that is the proof that there's international confidence in our plan. >> gilt yields are slightly lower. we're waiting for spain of course to ask for a bailout. spanish yields are lower. and if they stay in those sort of levels, spain will ride their luck for as long as they can. back to you. >> i was with you on that, ross. your audio guy was sleeping there for a second. we were going to step in and help you, but that was -- it was the eads, that's very unsettling what's happening with the eads. very unsettling. i'm anxious about how th
it will also impair heavily on the commercial products in the united states. they didn't like the going for growth. so just another fly in the ointment for the proposed merger. and finally, george osbourne spoke to us today, as well, about how he views the continuing ability of britain to deal with the situation. quick listen on that. >> one of the countries getting on top of our debt problems. we have a credible plan to reduce our budget deficit, that's delivering very low interest rates...
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Oct 16, 2012
10/12
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we only have one chief executive officer in the united states, that's the president of the united states. the president has the ability to command time from all the networks and all the other outlets on request. the president has to use the bully pulpit, whoever the president is, to make this case to the american people and then the people have to put pressure on senators and members of the house to work with the president to use this ticking bomb. >> that's a pretty tall order. >> it can happen and we need political reforms, too. we need redistricting reform, integrated and open primaries, we need campaign finance reform, we need lobbying reform, we need term limits. >> the american public is unhappy with the way things are going but they have very solid ideas about what they would like to see done. you've been doing this for a long time. is it back to 2007? i want to say it was before the financial crisis hit. >> 2005 is when i, pardon me, 2003 is when i blew the whistle that washington was out of touch and out of control. 2005 is when i started going on the road. >> so what have you s
we only have one chief executive officer in the united states, that's the president of the united states. the president has the ability to command time from all the networks and all the other outlets on request. the president has to use the bully pulpit, whoever the president is, to make this case to the american people and then the people have to put pressure on senators and members of the house to work with the president to use this ticking bomb. >> that's a pretty tall order. >>...
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Oct 11, 2012
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oil demand in the united states will have gone down. imports will be a lot less than they are today. they'll be cone secentrated in h america. but the big growth is chinand t and the other emerging markets. >> do you have any hope that renewable energy will become a real thing? >> i think it is a real thing in the way that -- in the quest and i have chapter tallcalled the rebirth of the renewalables. last year the renewable electric business was about a $167 million business. still small when you measure it against the overall energy industry and it has two big headwinds, one is the economic downturn. governments don't have the same money. and number two is the competition from natural gas at least in north america. >> so becky has a view, she's talked about it on the show, about natural gas exporting and what that -- >> i've been warned. >> i will admit, i don't know how strongly i feel about it, but i do have torn feelings when you start thinking aboutle natural gas, exportation, i realize it's a great thing and it would help boost so
oil demand in the united states will have gone down. imports will be a lot less than they are today. they'll be cone secentrated in h america. but the big growth is chinand t and the other emerging markets. >> do you have any hope that renewable energy will become a real thing? >> i think it is a real thing in the way that -- in the quest and i have chapter tallcalled the rebirth of the renewalables. last year the renewable electric business was about a $167 million business. still...
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Oct 3, 2012
10/12
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you're the president of the united states. you're cool, calm, and collected. >> when andrew asked that question -- i also saw it in "the new york times." the debate handler supposedly had to tell the president, please don't be too smart. you're a professor. don't just blow them away with your details, which you could. give me the substancetive argument for president obama on what he's rung on. all i know is he wants to raise taxes on rich people. other than that, what is his substance? >> are you better off than you were four years ago. >> but that's not -- >> isn't that the question? is that the question reagan asked? >> that's the question romney asked more recently. >> what is substantive -- >> what do we know? we haven't had a budget in three years. >> i would love to see these two men get up and give three specific points they would do if they became president in the next four years. >> and on that point then, three specific points that you think obama's going to give. >> lower the corporate rate, do tax reform and rebuil
you're the president of the united states. you're cool, calm, and collected. >> when andrew asked that question -- i also saw it in "the new york times." the debate handler supposedly had to tell the president, please don't be too smart. you're a professor. don't just blow them away with your details, which you could. give me the substancetive argument for president obama on what he's rung on. all i know is he wants to raise taxes on rich people. other than that, what is his...
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Oct 9, 2012
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you're in the united states this week, think is good. you were gone for 24 hours and your life is like -- >> would you expect anything less? >> no, that's what i'm saying. our guest host this morning ken langone, co-founder of home depot, chairman of invemed associates, much more to come from ken because we just promised it. you see the whole hour is about you. >> let's get you caught up on the morning headlines. the imf is cutting its global growth forecast for the second time since may and urging u.s. and european policymakers to deal with their fiscal issues or face with aprolonged downturn. it says the global economy will grow at 3.3% this year down from a july estimate of 3.5%. earnings season getting under way today with the release of dow component alcoa coming after the closing bell and the highlights of some of the big profile companies later this week we'll have jpmorgan chase, wells fargo, both of those coming out friday morning, of course while "squawk" is on the air so we'll talk about that. let's get a quick check on the ma
you're in the united states this week, think is good. you were gone for 24 hours and your life is like -- >> would you expect anything less? >> no, that's what i'm saying. our guest host this morning ken langone, co-founder of home depot, chairman of invemed associates, much more to come from ken because we just promised it. you see the whole hour is about you. >> let's get you caught up on the morning headlines. the imf is cutting its global growth forecast for the second...
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Oct 15, 2012
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>> i don't disparage them either, but there is no solution to the fiscal problems the united states of america is facing without at least some contribution from increased revenues. the math doesn't work. so you have to have compromising for forward and that's what we need to see. >> under the current tax system, we had 18% and 19% revenue in 2006 and 2007 under the current tax structure. >> okay. what's the point? >> so you don't necessarily need to raise taxes to get back to that revenue level. reason we're at 15% is because of the recession. >> joe, there is no way to balance -- >> are you living in minnesota now and all this is seeping in to your -- >> what was that, will there is no way for to what? >> there is no way to close the gap purely with spending cuts. you have to address entitlements and you have to raise revenues. and that's what we need congress to do. the problem is that nobody's doing it. i've been going around the country talking about my book which by the way is about steward ship, which means manning up and taking responsibility for fixing today's problems for the
>> i don't disparage them either, but there is no solution to the fiscal problems the united states of america is facing without at least some contribution from increased revenues. the math doesn't work. so you have to have compromising for forward and that's what we need to see. >> under the current tax system, we had 18% and 19% revenue in 2006 and 2007 under the current tax structure. >> okay. what's the point? >> so you don't necessarily need to raise taxes to get...
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Oct 31, 2012
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how big of an impact is this having across the united states at this point? >> a huge impact. it helps that you had d.c., boston, and philly back online yesterday, at a lower rate, and that's going to increase day-by-day. yesterday i talked with folks at u.s. airways, and they believe you'll slowly start to see service ramp up. by the weekend, you should be fairly close to relatively normal operations. this depends on what we see from laguardia. you saw pictures in terms of the flooded runways, water up to the jet bridge. so i think laguardia's really the key here and how long it takes before that is up and running. there's substantial damage there, including perimeter fence was breached. the instrument lighting system, that was damaged by a barge out in the water there. how long it takes to really get laguardia up, that's what everybody's watching right now. >> phil, do you know off-hand. >> do you know when they are likely to run out of those. do you know how it works? >> well, it goes as long as you use them, joe. i think there's not a time limit on this. >> 45 billion in l
how big of an impact is this having across the united states at this point? >> a huge impact. it helps that you had d.c., boston, and philly back online yesterday, at a lower rate, and that's going to increase day-by-day. yesterday i talked with folks at u.s. airways, and they believe you'll slowly start to see service ramp up. by the weekend, you should be fairly close to relatively normal operations. this depends on what we see from laguardia. you saw pictures in terms of the flooded...